PORTUGAL: Jerónimo Martins sees growth home and away

By: just-food.com | 26 July 2007

Growing retail sales in Portugal and Poland has boosted first-half profits at Jerónimo Martins.

The Portugal-based food group today (26 July) posted a 9.2% rise in net profit to EUR142m (US$195m) for the first half of the year. Turnover jumped 19.3% to EUR2.4bn.

The company's Polish chain, Biedronka, posted like-for-like sales growth of 19.2%; sales from its Pingo Doce stores in Portugal rose by 9%.

Jerónimo Martins said it plans to continue its expansion plans in the second half of 2007, opening 9 supermarkets and 3-5 hypermarkets in Portugal, as well as 63 supermarkets in Poland.

Meanwhile, the company saw sales from its manufacturing business rise by 2.6%, it said.